Institutional activity surrounding Uniswap’s $UNI token has surged over the past two days, with significant deposits being made to major exchanges.
This trend highlights growing movement in the $UNI market, including transactions from high-value wallets and previously dormant accounts.
One notable transaction came from a whale address, “0x59a,” with a portfolio valued at $89.4 million. This wallet transferred 1.495 million $UNI (worth $24.3 million) to Binance just an hour ago. The move secured the whale an estimated profit of $13.7 million—a 129% gain—after holding the tokens for five months.
Institutions have been depositing $UNI into exchanges over the past 2 days!
1/ Whale “0x59a” with a $89.4M portfolio deposited 1.495M $UNI ($24.3M) to #Binance an hour ago, securing an estimated $13.7M profit (+129%) after 5 months.
2/ @Uniswap team-related wallet “0xa37” sent… pic.twitter.com/DOa7ynLXKn
— Spot On Chain (@spotonchain) December 18, 2024
Meanwhile, a wallet linked to the Uniswap team, identified as “0xa37,” sent 4.99 million $UNI (valued at $80.79 million) to Coinbase Prime 25 hours ago. This account had been dormant for over 4.25 years and still retains 4.01 million $UNI (approximately $65.7 million).
Interestingly, this isn’t an isolated event. Since July 4, three previously inactive wallets associated with the Uniswap team have collectively deposited 22.99 million $UNI (worth $221.85 million) to Coinbase Prime. The average price of these transactions has been calculated at $9.648 per token.
Around 800,000 #Uniswap $UNI have been sent to exchanges in the past 24 hours, totaling over $13 million! pic.twitter.com/LzpC0OVXXE
— Ali (@ali_charts) December 17, 2024
Adding to the flurry of activity, roughly 800,000 $UNI—equivalent to over $13 million—has been sent to exchanges in the past 24 hours alone. This spike in deposits, combined with the reactivation of dormant wallets, raises questions about potential market strategies and institutional plans surrounding $UNI.
As these transactions continue to unfold, market watchers are keeping a close eye on $UNI’s price trajectory, anticipating possible shifts fueled by increased liquidity and strategic movements from major players.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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